July 9th 2016

Today’s focus:

- At the end of the week, VNIndex rose by 2,88% to settle at 658,68pts while HNXIndex grew by 2,58% to reach at 87,57pts. Market liquidity increased dramatically to 129mn units on HOSE and 63,3mn units on HNX, rising by 29,64% and 78,21% respectively compared to the previous week.

- Total state revenues from taxation in the first 6 months reached just over 48% compared to the estimate.

- North Korea has been condemned to launch missiles from submarines.

* Banking:

The State Bank continued purchasing foreign currencies and issuing debentures to regulate the market (VNEconomy 8-7).

Vietcombank’s profit before tax achieved VND4.193bn, increasing by 37,8% compared to the same period last year, reaching 52% of the target profit of the year (Trí thức trẻ 8-7).

* Currency:

At the beginning of the session, gold price made its return to growth after several sessions plummeting. SJC gold was set at VND36,90-37,70mn/tael in HCMC, increasing by VND50.000/tael and VND37,00-37,50mn/tael in Hanoi, rising by VND20.000/tael compared to the previous session. In the world, gold fell by 0,1% to USD1.358,87/ounce (VOV 9-7).

Central parity rates remained at VND21.862/USD. With the current +/-3% amplitude, the maximum and minimum exchange rates applied by banks today were VND22,518/USD and VND21,206/USD respectively (TBNH 9-7).

* Macro:

As of May 31th 2016, the government has collected VND20.052bn of tax debt, increasing by 17,9% from a year ago, attaining 37,7% of the annual target (TBTC 8-7).

* Vietnam Stock Market (HOSE/HNX):

At the end of the week, VNIndex rose by 2,88% to settle at 658,68pts while HNXIndex grew by 2,58% to reach at 87,57pts. Market liquidity increased dramatically to 129mn units on HOSE and 63,3mn units on HNX, rising by 29,64% and 78,21% respectively compared to the previous week. The most active stocks were large-cap ones such as VCB (0,00%), VNM (0,00%), GAS (-1,49%), BVH (-3,17%), HT1 (+1,41%), BMP (0,00%); construction and real estate ones including VCG (+2,21%), SJS (+3,11%), TDH (-1,56%), DRH (+6,9%); and steel stocks comprised of HPG (-0,23%), HSG (+2,41%), TLH (+6,25%)… (Vietstock 9-8).

* Corporate finance:

The government made a guarantee of about USD26bn worth of debts for state-owned corporations, which pushed public debts to over 50,3% of GDP in late 2015 (VNEconomy 6-7).

Total revenues of the tax in the first 6 months reached just over 48% compared to the estimate (VTV 8-7). (edited above)

* Agriculture, rural areas, ecological resources and climate change:

Hanoi requested land consolidation to be accomplished before July 30 (TBNH 9-7).

Per the government’s request, the Ministry of Agriculture and Rural Development is to propose policies to support people in Central Vietnam after the Formosa incident (Dân trí 8-7).

Deputy Prime Minister Truong Hoa Binh required Ministry of Trade to investigate complaints of the Vietnam Association of Financial Investors on the appointment of Mr. Vu Quang Hai as a member of Board of Directors and the Deputy General Director of Sabeco (VNEconomy 8-7).

The government issued a new regulation: Children under 15 have a right to open payment accounts (Tuổi trẻ 9-7).